Pidilite, RVNL, Shriram Finance, Piramal Enterprises, HDFC Life, defence stocks may remain in focus today
Stocks to watch: As per Zee Business, Piramal Enterprises is likely to sell its entire 8.34 per cent stake in Shriram Finance today via a block deal. The floor price of the block deal has been fixed at Rs 1483 apiece, which is a 5 per cent discount on the last closing price.
Domestic equities are expected to see a muted start to trading on Wednesday amid subdued global cues. The Nifty futures on the Singapore Exchange (SGX) traded 21.5 points, or 0.11 per cent lower at 18,859.5. Besides, Asian stocks were subdued on Wednesday as a lack of new stimulus steps from Beijing frustrated investors, who were also wondering just how hawkish the world's most powerful central banker would choose to be later in the session.
That said, let's take a look at the top stocks that may remain in focus today:
Pidilite Industries: The company on Tuesday announced the launch of its state-of-the-art manufacturing facilities under its two joint ventures, Pidilite Litokol Pvt Ltd (PLPL) and Tenax Pidilite Pvt Ltd (TPPL), in Amod, Gujarat.
Shriram Finance, Piramal Enterprises: As per Zee Business, Piramal Enterprises is likely to sell its entire 8.34 per cent stake in Shriram Finance today via a block deal. The floor price of the block deal has been fixed at Rs 1483 apiece, which is a 5 per cent discount on the last closing price.
RVNL: The company has issued a clarification after reports suggested that the Indian Railways may be forced to reissue tenders for 120 Vande Bharat Sleeper trains, as the talks of a joint venture between RVNL and Russia's TMH consortium broke down. The company said that the news is factually incorrect.
Defence stocks may trade actively today as it is expected that India, amid PM Modi's US visit, will sign a big-ticket deal with the US. The deal is expected to be signed between General Electric and Hindustan Aeronautics.
Shilpa Medicare informed exchanges that a meeting of the Board of Directors of the company will be held on Friday, June 23, 2023, to consider inter alia, the proposal of fundraising by way of the Rights issue of Equity Shares.
HDFC Life, HDFC: The Competition Commission of India has cleared HDFC's acquisition of the additional shareholding of HDFC Life Insurance Company.
Jamna Auto: Smallcap World Fund sold 59.05 lakh shares of the company at Rs 96.15 apiece.
HDFC Bank: Goldman Sachs has maintained BUY with a target price of Rs 2,050.
L&T: CLSA has a "Buy" on the stock with a target price of Rs 2,850.
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